Charles Schwab Investment Management Inc. Purchases 2,689 Shares of Piper Sandler Companies (NYSE:PIPR)

Charles Schwab Investment Management Inc. increased its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,226 shares of the financial services provider's stock after purchasing an additional 2,689 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.16% of Piper Sandler Companies worth $58,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versor Investments LP acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $880,000. Victory Capital Management Inc. boosted its holdings in shares of Piper Sandler Companies by 20.6% in the third quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider's stock worth $4,509,000 after buying an additional 2,713 shares during the period. Natixis Advisors LLC raised its holdings in shares of Piper Sandler Companies by 8.1% during the third quarter. Natixis Advisors LLC now owns 19,838 shares of the financial services provider's stock valued at $5,630,000 after acquiring an additional 1,487 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Piper Sandler Companies by 6.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 60,514 shares of the financial services provider's stock valued at $17,175,000 after acquiring an additional 3,677 shares during the period. Finally, Creative Planning lifted its position in shares of Piper Sandler Companies by 34.8% in the 3rd quarter. Creative Planning now owns 9,287 shares of the financial services provider's stock valued at $2,636,000 after acquiring an additional 2,399 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

PIPR traded up $1.28 on Friday, reaching $342.99. 46,400 shares of the company traded hands, compared to its average volume of 107,655. Piper Sandler Companies has a 52-week low of $152.59 and a 52-week high of $351.80. The stock's 50 day moving average price is $324.46 and its 200-day moving average price is $295.22. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.04. The firm had revenue of $359.57 million during the quarter, compared to analysts' expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PIPR shares. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 28th.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.